Atari to Acquire 82.6% Stake in Thunderful Group with €4.5 Million Investment Amid Restructuring and Layoffs
Atari has officially announced its plan to acquire a controlling 82.6% stake in Thunderful Group AB, the Swedish game publisher best known for the SteamWorld franchise, as part of a €4.5 million investment that comes amid significant restructuring and layoffs within the company.
In the announcement published via GlobeNewswire, Atari revealed that it will invest 50 million SEK (approximately €4.5 million) through a directed share issue. Once finalized, the investment will secure Atari approximately 82.6% ownership of Thunderful, marking a dramatic shift in Thunderful’s corporate structure. This acquisition remains contingent on shareholder approval, with a vote expected during a special meeting scheduled for August 28, 2025.
In tandem with the acquisition announcement, Thunderful Group issued its own press release, revealing a company-wide restructuring effort aimed at lowering operational costs and improving cash flow. This strategic shift, born from an internal review, is reportedly focused on making the business sustainable even at reduced revenue levels. However, the immediate consequence of these changes is a new round of layoffs, affecting both development studios and the publishing segment.
Patrick Svensk, Chairman of the Board at Thunderful Group, commented on the matter:
“It is unfortunate to have to implement further operational measures that affect some of our colleagues. At the same time, I am convinced that this is the right path for Thunderful to create an efficient organization within the publishing business where our announced release pipeline remains intact.”
Atari's acquisition of Thunderful marks a significant evolution in its long-standing strategy. While the French-American company has largely concentrated on retro revival efforts and has made previous acquisitions like Digital Eclipse and Nightdive Studios, this move suggests an ambition to expand its portfolio beyond vintage gaming IPs into modern publishing and development.
Thunderful, headquartered in Gothenburg, has cultivated a respectable name in the indie scene through titles like SteamWorld Dig, The Gunk, and SteamWorld Build, and has also operated as a publisher for a range of independent titles. Atari’s decision to take control could hint at upcoming changes in brand positioning, development direction, or broader distribution strategy.
With the global gaming industry currently experiencing widespread layoffs, Atari's investment provides much-needed financial support, but whether this will translate into long-term stability for Thunderful remains to be seen. The restructuring is set to continue after the acquisition is complete, suggesting that further changes to staffing and operations are likely.
The outcome of the August shareholder vote will be critical in finalizing this transaction. As one of gaming’s most iconic legacy companies absorbs a new portfolio of modern titles, the industry will be watching closely to see how Atari navigates this expanded role in game publishing.
Will this mark a renaissance for Atari in the modern gaming landscape, or is it a high-risk move at a turbulent time? Let us know what you think in the comments.
